We believe borrowing should be transparent and simple. Businesses receive customized offers based on their financial strength, the creditworthiness of the business and the guarantor, and the requested amount. Business loans through LendingClub include the following terms:
- Interest rates range from 5.99%–29.99%.
- A one-time origination fee of 1.99%–8.99% is taken out of the loan proceeds.
For example, an applicant was offered a 36 month term for a $50,000 loan at an interest rate of 7.9% and a 1.99% origination fee ($995.00). The borrower would receive loan proceeds of $49,005.00 (loan amount of $50,000 less origination fee of $995.00) and pay 36 monthly payments of $1,564.51.
- Other fees apply if you pay by check, and you may be charged a fee on late payments.
- You may pay off your loan early without any prepayment fees or penalties.
We give you access to the lowest rate we're able to, based on our understanding of your business. Unfortunately, we can’t negotiate rates. However, you can lower the total cost of borrowing by making additional payments.